Mirae Asset Global Investments Co. Ltd. Has $6.51 Million Stock Position in argenex SE $ARGX

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of argenex SE (NASDAQ:ARGX) by 91.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,828 shares of the company’s stock after acquiring an additional 4,217 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in argenex were worth $6,511,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ARGX. Allspring Global Investments Holdings LLC increased its stake in shares of argenex by 14.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 211,330 shares of the company’s stock valued at $162,160,000 after acquiring an additional 26,343 shares during the last quarter. Alta Wealth Advisors LLC bought a new position in argenex during the 3rd quarter worth approximately $623,000. Aberdeen Group plc grew its holdings in argenex by 28.8% during the second quarter. Aberdeen Group plc now owns 70,293 shares of the company’s stock valued at $38,747,000 after purchasing an additional 15,703 shares during the period. Tandem Capital Management Corp ADV acquired a new position in shares of argenex in the 2nd quarter valued at $450,000. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in argenex by 27.1% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,934 shares of the company’s stock valued at $1,066,000 after acquiring an additional 412 shares during the period. Institutional investors own 60.32% of the company’s stock.

Analyst Upgrades and Downgrades

ARGX has been the subject of a number of research reports. Royal Bank Of Canada increased their target price on argenex from $860.00 to $925.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Piper Sandler upped their target price on shares of argenex from $820.00 to $930.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 4th. HC Wainwright increased their target price on argenex from $774.00 to $915.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Stifel Nicolaus boosted their price target on argenex from $1,028.00 to $1,248.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of argenex in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $986.78.

argenex Price Performance

Shares of NASDAQ ARGX opened at $840.50 on Friday. The business has a 50-day moving average of $852.12 and a 200-day moving average of $782.95. The stock has a market capitalization of $52.01 billion, a price-to-earnings ratio of 36.09, a PEG ratio of 0.56 and a beta of 0.38. argenex SE has a fifty-two week low of $510.05 and a fifty-two week high of $934.62.

argenex (NASDAQ:ARGX) last released its earnings results on Thursday, October 30th. The company reported $4.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.37 by $0.03. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.07 billion. argenex had a return on equity of 29.78% and a net margin of 41.58%. On average, sell-side analysts expect that argenex SE will post 3.13 EPS for the current year.

About argenex

argenx (NASDAQ: ARGX) is a biotechnology company focused on the discovery, development and commercialization of antibody-based therapeutics for severe autoimmune and neuromuscular diseases. The company uses its proprietary SIMPLE Antibody platform to generate differentiated antibodies and engineered Fc regions, and it pursues mechanisms that modulate the neonatal Fc receptor (FcRn) to reduce pathogenic IgG levels. Argenx’s research and development activities span target identification, preclinical development and late-stage clinical programs aimed at addressing unmet needs in immunology.

The company’s lead product, efgartigimod (marketed as Vyvgart), is an FcRn antagonist developed to reduce circulating IgG antibodies and treat IgG-mediated disorders.